Nasdaq Making A Break!
The Nasdaq 100 was leading the way and trending stronger than the other main two US indices,
the S&P 500 and the Dow Jones 30, during the pandemic last year and looks to be leading the
way once again.
This week we saw price break above the previous all-time high at $14073 but price has since
retreated back below this level. If the week closes above $14073 then we should see further
moves to the upside.
There is a battle going on right now between the buyers and the sellers this week, as we
can see an indecision candle, but one will eventually come out on top.
The weekly 50 simple moving average has been used as support in the past, the last contact
was made in April 2020, so if we are due another pullback, then price may come down to
this indicator to find support again.
Nasdaq has been in a bull trend since 2009, but has been moving sideways since February
this year. Once the momentum picks up again, we should see price clear resistance and
continue the bull trend.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
the S&P 500 and the Dow Jones 30, during the pandemic last year and looks to be leading the
way once again.
This week we saw price break above the previous all-time high at $14073 but price has since
retreated back below this level. If the week closes above $14073 then we should see further
moves to the upside.
There is a battle going on right now between the buyers and the sellers this week, as we
can see an indecision candle, but one will eventually come out on top.
The weekly 50 simple moving average has been used as support in the past, the last contact
was made in April 2020, so if we are due another pullback, then price may come down to
this indicator to find support again.
Nasdaq has been in a bull trend since 2009, but has been moving sideways since February
this year. Once the momentum picks up again, we should see price clear resistance and
continue the bull trend.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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